Tag: European Central Bank
When you owe the bank a thousand dollars it’s your problem. When you owe the bank a few hundred billion dollars it’s the bank’s problem, in this case, specifically German banks.
The treaties are untouchable, precisely because Germany believes that to loosen its hold over the monetary system will be to open Pandora’s Box to the ghosts of inflation and social instability rising, to haunt us anew, Alastair Crooke writes.
…All of which tells us that something is indeed rotten in the state of Denmark (and elsewhere), as Lagarde takes over as president of the ECB…
First, Salvini goes into the European Parliament to disrupt proceedings and further undermine Angela Merkel’s powerbase. Second, he and Di Maio take that success back to Rome and use that to engage real EU reform of the financial system.